2025年，零跑汽车以近60万辆的年销量，成为造车新势力销量"冠军"；而曾经风光无限的哪吒汽车，却正式走向拍卖台，任人挑选。这两家起步时间相近、 均主打性价比产品的新造车企业，在十年间走出了截然不同的命运轨迹，一个登顶巅峰，一个黯然谢幕。 "蔚小理"（蔚来、理想、小鹏）曾是造车新势力的开山鼻祖，一度占据着舆论焦点。但10年之间，镁光灯的焦点逐渐转移。到了2025年，零跑、鸿蒙智行和 小米等"黑马"吸引着越来越多的注意力。 零跑在2025年销售59.7万辆，同比增长103%，首次登顶销量"冠军"宝座。这家从安防业跨界而来的企业，前期并不被看好。2019年零跑推出首款电动轿跑车 型时，市场遇冷。随后，零跑转变战略，瞄准主流大众市场，推出微型车T03打开市场，后续又推出C11等车型，并加推增程式混动车型，凭借"半价理 想"的性价比优势，销量持续攀升。 同时，零跑获得Stellantis的投资与战略合作，品牌背书得以强化。2025年，借助与Stellantis集团的合作，零跑在海外发布新品，出海进程得到提速。此外， 零跑还与中国一汽达成战略合作并获得后者入股。不过，在走量的同时，如何实现品牌高度提升，成为零跑接下来面 ...

2025年新能源汽车市场收官，造车新势力的年度答卷上，写满了两极分化的残酷现实。 当"鸿零米"（鸿蒙智行、零跑、小米）以爆发式增速颠覆"蔚小理"（蔚来、小鹏、理想）旧格局之时， 市场的另一端，曾经的明星企业接连倒下，还有一些沉寂者则在绝境中试图吹响"复活"的号角。 有人在增量市场中高歌猛进，有人则在存量博弈里挣扎求生，行业洗牌下的生存与崛起之战，已然白热 化。 "鸿零米"高光之下，考验启幕 2025年造车新势力销量榜的最大变量，莫过于"鸿零米"的集体突围，彻底打破了"蔚小理"格局，重塑了 行业竞争版图。 零跑汽车堪称年度最大黑马，低调深耕多年后迎来爆发。依托全域自研构建的规模效应与精准的性价比 策略，其2025年全年交付量达59.66万辆，不仅登顶新势力销冠，更创下新势力年销量纪录，上演了"慢 跑者"的逆袭。 与"蔚小理"几乎同时创立的零跑，在过去一直"慢跑"：作为最早一批入局的造车新势力，零跑在2019年 才推出首款量产车T03，比"蔚小理"首款车晚了1~2年；"蔚小理"在2018~2020年先后登陆美股，但零跑 在2022年9月才在港交所上市；在2019~2022年，"蔚小理"月销稳定在万辆级别，是新势力 ...

记者丨何煦阳 编辑丨张明艳 2025年新能源汽车市场收官，造车新势力的年度答卷上，写满了两极分化的残酷现实。 当"鸿零米"（鸿蒙智行、零跑、小米）以爆发式增速颠覆"蔚小理"旧格局之时，市场的另一端，曾经的 明星企业接连倒下，还有一些沉寂者则在绝境中试图吹响"复活"的号角。 有人在增量市场中高歌猛进，有人则在存量博弈里挣扎求生，行业洗牌下的生存与崛起之战，已然白热 化。 | | | 2025年造车新势力销量排行 | | | | --- | --- | --- | --- | --- | | 排名 品牌 | | 2025年交付量(万辆) | | 同比增长 年度销量目标完成率 | | 1 | 零跑 | 59.66 | 103% | 119% | | 2 | 鸿蒙智行 58.91 | | 32% | 59% | | 3 | 小鹏 | 42.94 | 126% | 113% | | 4 | 小米 | 41.00+ | 299% | 117% | | 5 | 理想 | 40.63 | -19% | 63% | | 6 | 蔚来 | 32.60 | 47% | : 74% | "鸿零米"高光之下，考验启幕 2025年造车新 ...

记者丨 何煦阳 编辑丨张明艳 2025年新能源汽车市场收官，造车新势力的年度答卷上，写满了两极分化的残酷现实。 当"鸿零米"（鸿蒙智行、零跑、小米）以爆发式增速颠覆"蔚小理"旧格局之时，市场的另一 端，曾经的明星企业接连倒下，还有一些沉寂者则在绝境中试图吹响"复活"的号角。 有人在增量市场中高歌猛进，有人则在存量博弈里挣扎求生，行业洗牌下的生存与崛起之战， 已然白热化。 | 排名 | 品牌 | 2025年交付量(万辆) | | 同比增长 年度销量目标完成率 | | --- | --- | --- | --- | --- | | 1 | !零跑 | 59.66 | 103% | 1119% | | 2 | 鸡蒙智行 58.91 | | 32% | : 59% | | 3 | 小鹏 | 42.94 | 126% | 113% | | 4 | 小米 | 41.00+ | 299% | 117% | | 5 | 理想 | 40.63 | -19% | 63% | | 6 | 蔚来 | 32.60 | 47% | : 74% | "鸿零米"高光之下，考验启幕 2025年造车新势力销量榜的最大变量，莫过于"鸿零米"的集体 ...

2025年新能源汽车市场收官，造车新势力的年度答卷上，写满了两极分化的残酷现实。 当"鸿零米"（鸿蒙智行、零跑、小米）以爆发式增速颠覆"蔚小理"旧格局之时，市场的另一端，曾经的明星企业接连倒下，还 有一些沉寂者则在绝境中试图吹响"复活"的号角。 "鸿零米"高光之下，考验启幕 2025年造车新势力销量榜的最大变量，莫过于"鸿零米"的集体突围，彻底打破了"蔚小理"格局，重塑了行业竞争版图。 零跑汽车堪称年度最大黑马，低调深耕多年后迎来爆发。依托全域自研构建的规模效应与精准的性价比策略，其2025年全年交 付量达59.66万辆，不仅登顶新势力销冠，更创下新势力年销量纪录，上演了"慢跑者"的逆袭。 有人在增量市场中高歌猛进，有人则在存量博弈里挣扎求生，行业洗牌下的生存与崛起之战，已然白热化。 与蔚小理几乎同时创立的零跑，在过去一直"慢跑"：作为最早一批入局的造车新势力，零跑在2019年才推出首款量产车T03，比 蔚小理首款车晚了1~2年；蔚小理在2018~2020年先后登陆美股，但零跑在2022年9月才在港交所上市；在2019~2022年，蔚小理 月销稳定在万辆级别，是新势力销量前三的常客；而彼时零跑月销仅数千辆。 ...

Core Viewpoint - Leap Motor aims to transition from a follower to a leader in the electric vehicle industry over the next decade, leveraging its technological advancements and product maturity to achieve sales targets exceeding 4 million units annually [2][3]. Company Overview - Leap Motor was established on December 24, 2015, and is positioned as a technology-driven smart electric vehicle company, launching its first mass-produced model, the Leap S01, in November 2017 [3]. - The company has developed a competitive in-house parts system and claims to have mastered all core technologies necessary for electric vehicle production [3]. Technological Development - Leap Motor emphasizes "full-domain self-research," covering 65% of the vehicle's cost with core technologies, and maintains a high proportion of R&D personnel, which was 90% during its startup phase and remains at 80% [3][4]. - The company has achieved significant breakthroughs in sales, with a projected delivery of 596,555 vehicles in 2025, representing a 103% year-on-year growth [4]. Market Positioning - Leap Motor is transitioning from being categorized as a new force in the automotive industry to aiming for global recognition as a world-class electric vehicle manufacturer [5]. - The D series, which includes flagship models priced between 250,000 to 300,000 yuan, is designed to compete with luxury vehicles priced between 500,000 to 1,000,000 yuan, while maintaining a cost-based pricing strategy [5]. Strategic Partnerships - China FAW Group has become a strategic shareholder in Leap Motor, marking a significant recognition of the company's achievements over the past decade [6]. - The partnership with Stellantis is expected to enhance Leap Motor's international presence and operational efficiency, with the company currently covering 35 countries and regions globally [7]. Future Outlook - Leap Motor aims to achieve its goal of becoming a world-class smart electric vehicle company, supported by its technological capabilities and strategic partnerships [7].

Core Viewpoint - The company aims to become a world-class smart electric vehicle manufacturer in the next decade, driven by technological innovation and global expansion [1][9]. Group 1: Company Overview - The founder and CEO, Zhu Jiangming, reflected on the company's ten-year journey in the automotive industry, emphasizing the importance of maintaining control by the founding team despite new investments [2]. - As of now, the company has delivered over 1.2 million vehicles, with an expected annual sales volume of nearly 600,000 units in 2025, positioning it as a leader among new automotive manufacturers [2]. Group 2: Historical Challenges - The company faced significant challenges in its early years, describing the past decade as "nine lives," indicating the difficulties encountered in achieving profitability and market acceptance [3]. - The initial market response to the first model, S01, was lukewarm, leading to financial and market pressures until the successful launch of the T03 model in 2020, which validated the company's strategy of offering high-value products [5]. Group 3: Product Development and Financial Milestones - The launch of the C11 model in September 2021 marked a significant turning point, offering strong product capabilities and achieving a notable market presence [6]. - In 2023, the company achieved a milestone by reaching a positive gross margin of 0.5%, indicating its first profitable year in vehicle manufacturing [6]. Group 4: Future Goals and Strategies - The company has set an ambitious target of achieving annual sales of 4 million vehicles in the next decade, supported by a clear strategy that includes expanding its product line and accelerating global operations [9][12]. - Plans include launching a full range of vehicles from A0 to D class over the next three years and establishing a presence in key international markets through partnerships and local operations [12]. Group 5: Challenges Ahead - The company will face intense competition in the mainstream market segment priced between 150,000 to 250,000 yuan, with new entrants like Huawei and Xiaomi [14]. - Global expansion will require adaptation to local regulations, consumer habits, and infrastructure, alongside the need to build multiple factories to support the production of 4 million vehicles [14].

导读：2026年西班牙电动车市场的销量冠军或将迎来"交接时刻"。 （文 / 观察者网 周盛明 编辑 / 高莘） 在这一过程中，比亚迪等中国车企，正在成为西班牙电动车市场中的关键变量。 从全年数据来看，Model 3全年销量同比下滑9.6%，而Model Y则同比增长9.4%。 对于西班牙电动车市场来说，更具性价比优势的电动车正在异军突起。 12月，比亚迪Dolphin Surf（海鸥）以697辆的成绩跻身第三，紧随其后的是比亚迪Atto 2（元UP）和雪 铁龙C3。 值得注意的是，零跑汽车的表现也较为亮眼。依托零跑T03和零跑B10两款车型，其月度销量已超越雷 诺、斯柯达等老牌车企。 此外，起亚EV3、Jeep Avenger、雷诺 R5等车型也开始频繁出现在西班牙电动车销量榜中，这表明产品 多样化正在推动西班牙消费者完成电动化转变。 纵观2025年全年，西班牙纯电动车销量同比大增77%，突破10万辆的关键转折点，达到104262辆。 西班牙汽车与卡车制造商协会（ANFAC）日前公布的数据显示，特斯拉12月在西班牙的新车销量同比 大跌44.2%，为1794辆。 与此同时，比亚迪在西班牙的销量表现优异：12月以 ...

Core Viewpoint - Hangzhou is undergoing a transformation from a digital economy hub to a new manufacturing era, focusing on artificial intelligence and smart connected vehicles, with Leap Motor exemplifying this shift through its commitment to self-research and vertical integration [1][3][6]. Group 1: Industry Transformation - Hangzhou's transition is marked by a shift from an application-based ecosystem to a focus on foundational technology and innovation [4][5]. - The city aims to master the entire value chain from core chip computing power to terminal applications, indicating a move from rapid business model replication to tackling core technologies [6][10]. - Leap Motor's approach aligns with Hangzhou's strategy, emphasizing deep engagement in the foundational layers of electric vehicles, such as electronic architecture and battery technology [8][10]. Group 2: Leap Motor's Business Model - Leap Motor has restructured the traditional automotive business model by eliminating intermediaries and focusing on cost and value [18]. - The company achieves a 65% self-research and manufacturing ratio for core components, allowing it to maintain a healthy gross margin of 14% to 15% while passing cost advantages to consumers [10][18]. - The company's sales have seen significant growth, with cumulative sales surpassing 250,000 units, demonstrating the effectiveness of its self-research and cost pricing model [19]. Group 3: Engineering Culture and R&D - Leap Motor's engineering culture supports its self-research strategy, with a research team exceeding 6,000 members and substantial investments in R&D [22]. - The company has achieved rapid production scaling, reducing the time to produce its 100,000th vehicle to just 343 days, showcasing its operational efficiency [22][24]. - Leap Motor's commitment to R&D is reflected in its plans to increase investment to 4 to 5 billion yuan in the coming years [22]. Group 4: Global Expansion - Leap Motor is pursuing a global strategy through a partnership with Stellantis, which involves a 1.5 billion euro investment for a 20% stake, facilitating access to global markets [26]. - The company has established over 800 sales and service points across approximately 35 international markets, indicating a robust global presence [28]. - Leap Motor's European manufacturing base in Spain is set to begin production in 2026, marking a shift from a trade-based to an ecosystem-based global strategy [28]. Group 5: Entrepreneurial Spirit and Future Outlook - Leap Motor's founder, Zhu Jiangming, embodies the spirit of scientific entrepreneurship, recognized for his contributions to technology and innovation [12][14]. - The company aims to become a respected global automotive brand, reflecting Hangzhou's ambition in the new manufacturing era [16][29]. - Leap Motor's journey serves as a model for how to navigate complexity and achieve future success through a focus on core values and technological foundations [31].

Core Insights - Hangzhou is undergoing a transformation from a digital economy hub to a new manufacturing era, focusing on artificial intelligence and smart connected vehicles [1][3] - Leap Motor's development trajectory aligns with Hangzhou's industrial transformation, emphasizing self-research and vertical integration in manufacturing [3][6] Industry Transformation - Hangzhou's shift represents an evolution from application-based innovation to foundational restructuring in advanced manufacturing [4] - The city aims to control the entire value chain from core chip computing power to terminal applications, moving beyond rapid business model replication [4] Leap Motor's Strategy - Leap Motor has adopted a self-research approach since its inception, prioritizing core technologies such as battery and electric drive systems [6][8] - The company has achieved a 65% self-manufactured core component ratio in its vehicle BOM costs, leading to a 10% cost advantage over competitors [8][14] Recognition and Leadership - Leap Motor's founder, Zhu Jiangming, has been recognized as a "scientific entrepreneur," reflecting the city's shift towards valuing science and technology [9][11] - The company has received significant government investment, totaling over 9 billion yuan, highlighting the supportive role of local authorities in its growth [13] Financial Performance - Leap Motor's business model focuses on cost transparency and value redefinition, maintaining a healthy gross margin of 14%-15% while passing savings to consumers [14] - The company has seen rapid growth, achieving over 250,000 cumulative vehicle sales and aiming for 1 million by 2026 [15][17] Global Expansion - Leap Motor has formed a strategic partnership with Stellantis, securing a 15 billion euro investment for a 20% stake, facilitating global market access [18][20] - The establishment of over 800 sales and service points across 35 international markets demonstrates Leap Motor's extensive channel development [20] Cultural and Philosophical Underpinnings - The company's approach reflects Hangzhou's pragmatic and daring spirit, focusing on core technology and user needs [21][23] - Leap Motor's journey serves as a model for industrial transformation, showcasing a rational path towards future competitiveness [23]